Geography and not only
Batumi is a popular black sea resort c curative air, picturesque nature, developed infrastructure and a long swimming season, which lasts from may to October. In addition, since 2004, this "project of national importance" for the Georgian government, which has invested much money and effort in the reconstruction of Batumi and contributed to the acquisition of the status of the most rapidly developing resort on the black sea coast.
Strong traditions are harmoniously combined in Batumi with innovation – that is what makes the resort so special. Major investment is made in the creation and development of the modern image of the city, the hallmark of which have become futuristic skyscrapers – prestigious condo complexes large developers and five star hotels international chains. Batumi managed to keep the spirit of the past: it is felt in the narrow streets of the Old town, unshakable culinary traditions of the capital of Adjara, home to the coziness of cafes and restaurants, the friendliness and hospitality of the locals.
The city is conditionally divided into three zones: 1st, 2nd and 3rd. 1 zone is the embankment, 2-nd and 3-rd zone – the center of the city. The main pedestrian artery of the city is its promenade, the Batumi Boulevard. It stretches along the pebble beach, which is called here in the Western manner – Batumi beach. This is 1 area, the Central tourist and the "investment" part of the city. Here is a variety of cafes, bars and restaurants. On the first and the second line from the Boulevard is the most prestigious accommodations of the resort. Here are five-star hotels Sheraton, Radisson, Hilton, Hyatt, Kempinsky, Mandarin Oriental. From here you can look at Batumi with the bird's eye view from the Ferris wheel, to see Europe square with singing fountains and the impressive monument to Medea.
Chavchavadze street is a long "horizontal", which divides the city on the Northern and southern parts. In the Northern half of the city is a "square" of the Old City, the borders of which Batumi existed in the beginning of the century. Feel the spirit of old times, walk through Baratashvili street to the sea port.
Annually Batumi is visited by 1 million tourists, and the number of guests is constantly growing. However, Batumi is not only a tourist, but also business and cultural centre of the country. It hosts the annual business forums, festivals, concerts and social events. In Batumi there are beautiful parks, theaters, concert halls, art galleries, a water Park, Dolphinarium, cable car, Botanical gardens and natural reserves. The resort's popular Museum of art of Adjara, Batumi Archaeological Museum, Museum, theatre named after Ilya Chavchavadze. The city has six casinos, and for the foreseeable future they will be joined by 30 that will make Batumi the fourth-largest gaming center in the world.
Batumi is and educational centre of Western Georgia. Here are the Batumi State University. Shota Rustaveli Batumi State Maritime Academy and other universities. In total there are about 20 schools and about the same number of kindergartens, which is very convenient for long term stay with children.
A bit of history
The first mention of Batumi there are more in the IV century BC Aristotle: ancient Greek philosopher wrote in his works about the city of Kolkheti Batuse. Perhaps its name Batumi really got from the word "Bates", which translated from Latin means "depth". Because the port of Batumi is the deepest in Georgia after Sukhumi. Archaeological excavations in the suburbs of Batumi, revealed that people inhabited these places in II-I centuries BC – and had fairly developed trade relations with its neighbors. The heart of the ancient Batumi was located in the fortress of Tamara, the pillar which marked the cultural and economic centre of the valley of the river Korolistskali. Truly: the history of Batumi is rooted in antiquity, the more attractive it blends harmoniously with modernity.
How to get
Direct flights Moscow-Batumi are Georgian Airways and S7 on Tuesdays and Saturdays. Travel time is 2.5 hours. Also to Batumi can be reached from Tbilisi: internal flights of "Georgian Airways" (40 minutes), by train (about 8 hours) or taxi (about 6 hours). Batumi airport is located 2 km from the city centre. Be reached from it by taxi or by bus. From Sochi twice a week to Batumi ferries. The public transport system in Batumi is well developed and includes buses, minibuses and taxis.
Inviolable hospitality
Batumi is a multinational. 90% of the population, the size of which in January 2015 amounted to approximately 145 000 people speak Russian.
Friendly Caucasian mentality creates a very special atmosphere, familiar to everyone, at least once visited in Georgia. Despite the political conflicts between the two countries, which, fortunately, is gradually receding into the past, here is a very happy Russians – and still call our compatriots "brothers". Foreigners are always welcome here. In addition to the Russians to relax and buy real estate in Batumi prefer citizens of Azerbaijan, Belarus, Ukraine, Turkey, Poland, Israel, China, Armenia and Persian Gulf countries.
The simplified procedure of entry in Georgia provides visa-free regime for citizens of 94 countries including Russia, Ukraine and Belarus. Currently, the period of stay of foreign citizens in the country is a year, instead of the previous 90 days.
Kitchen Adjara – special, because the secrets of cooking is largely due to climatic conditions of the highlands. The food of the region is hearty and rich in flavors. Here we use a lot of local cheese, a large amount of butter, sour cream kaimahi. Mountain river of Adjara are rich in trout, and coastal waters, different species of fish. Definitely worth to try the trout baked in walnut leaves, the Adjara kawara on a ketse, achmu and, of course, khachapuri in Adjara – in the form of boats with egg and Imeretian cheese. Of course, as always in Georgia, Adjara on the table a lot of wine, herbs, fresh vegetables and fruits.
Why Batumi?
According to the results of research at the international level crime and security conducted by the Gallup World in 2010-2012, Georgia took 3rd place, becoming one of the safest countries in the world. And in 2014, Georgia was on 11th place among 197 countries according to the corruption risk index, ahead of such European countries, like the Netherlands, France and Norway.
And according to the "Report on business" category which was developed by the world Bank and IFC and is based on financial data of Corporation Doing Business, Georgia was number 8 in the world for ease of doing business, number 1 for property registration, 3 credit and 16 for the protection of investors(compared to Russia at this point only took 115).
Georgia has low tax rates comparing with the countries of Eastern and Central Europe. Buying property here, the buyer does not incur any additional costs. In Georgia the buyer does not pay VAT, does not pay compulsory insurance of property and at the conclusion of the contract of sale with him not charged notary fees and legal fees. Unlike many European countries where the annual tax on ownership of real estate is 1% -10% of the declared value, and where the interest rate is growing every year in Georgia there is no estate tax.
A combination of factors such as the mild climate of Batumi, a long bathing season, excellent cuisine, the hospitality of the locals, no language barrier, the presence of many schools, kindergartens and universities, is quite short and not very expensive flights, simplified visa regime and the ease of transactions with real estate makes the purchase of housing in Batumi particularly attractive to Russians. ""Investing in real estate at the resort say its well-developed infrastructure and a real construction boom, allows you to buy apartments at affordable prices, constant growth of which is marked by the specialists of the Georgian real estate market. also. According to experts, annually housing is gaining in price by 20%-40%.
The procedure of purchasing property in Georgia is very simple: to make a purchase requires only a passport. The time of registration of the object in the property is only 15 minutes. Banks provide foreign investors with favorable terms for installments and loans with an interest rate from 9% to 12%.
Objects attractive for investments
About 85% of buyers of housing in Batumi – both residents and non-residents of Georgia – acquire real estate for the purpose of obtaining additional income, experts say.
The most attractive areas for investment in Batumi is considered the first and second coastal line of the city, stretching along the famous Batumi Boulevard. In Batumi construction of new buildings for permanent living and for holidays – apart-hotels. Under construction mixed-use development in which a resident of any country can become the owner of apartments to suit every taste. These include high-rise Orbi Group on the beach, complexes in the city centre, Mardi Holding company – or outside the city by the sea company Dreamland Oasis.If desired, the buyer has the opportunity to purchase land on the beach outside the city, to build her own house on an individual project.
Leading representatives of the market noted that the most profitable sites for investment in Batumi are apartments in apartment hotels, designed not only for travelers, but also for their subsequent lease, as well as housing in buildings under construction.
As an example, you can calculate the yield when buying apartments of 30 sq m in a newly built apart-hotel in Batumi on the first line. The cost of apartments in the construction phase is $25,000, a year and a half, after commissioning, it will be $51 000. Renovation work turnkey cost of $10 000. And the rental price will be $70 per day. The amount of income for the three months of the year – $6300, including 9% at facilities management company. Annual maintenance costs – $240. Total yield: 15%.
Mission Orbi Group reports that Russians make up more than 50% of all customers in Batumi. Our compatriots prefer a small apartment for investment purposes and on the beach.
Pictures
Average prices on the secondary real estate market of Batumi is $650-$950 per square meter. Overall, for the 1st zone is characterized by a price per square meter is from $1000 to $4000, for a 2nd zone – from $550 to $900, 3rd – $350 to $600.
The cost per square meter in new buildings in the initial phase of construction is $550-$800. By the time construction is completed the price of 1 sq. m. increases to an average of $1000-$1500, and the objects Orbi Group comes to $3000. This factor indicates the positive dynamics of growth of demand and high degree of liquidity of real estate.
So, in a newly built complex on the seashore"square" will cost $900. Studio with finished interior ("white frame") with an area of 35 sq. m will cost between $31 500, two bedroom apartment of 75 sq. m – from $67 500.
On the beach outside the city in the multifunctional complex (the "company" Dreamland Oasis) the cost of the studios of 35 sq. m starts from $60 000 the turnkey two-bedroom apartments with 116 square meters of "turnkey" – $220 000.
In the city center in a newly built complex price per square meter starts from $450. Studio of 35 square meters will cost from $14 000 not finish(+ $30 per sq m for "white frame"), and two-bedroom apartments with an area of 75 sq MBES finish – $33 750 (also + $30 per sq m for "white frame").
Rent
Due to a relatively long tourist season and a huge influx of tourists, daily rent in Batumi profitable long term. Thus, the representatives of Orbi Group noted that, with the continued delivery of apartments to rent, the payback period is three to four years. The average rent of apartments in Batumi is $70-$100 per day – the amount varies depending on the area of the city. While the average price of rent Studio apartment for a long time – $300-$400 a month.
In summer season the rental price of the apartment per day in the 1st zone is from $100 to $400; in the 2nd zone – from $50 to $200; 3rd – $30 to $100. In the period from October to may prices vary as follows: 1st zone – from $70до $300 a day; in the 2nd zone – from $20 to $100 per day; in the 3rd zone – from $30 to $70 per day. Approximate cost of monthly payment from October to may is: in the 1st zone – from $300 to $1500; in the 2nd zone – from $200 to $700; in the 3rd zone from $150 to $350 a day.
Residence permit
Officially, the acquisition of real estate in Batumi and in whole Georgia – is not a basis for obtaining permanent residence, but ownership of the facility from $35 000 can positively influence the government's decision on granting permanent residence permit to the owner. As a rule, to obtain permanent residence the applicant must have a permanent income on the territory of Georgia or to manage the business in the country.
Additional costs
Property registration in public registry is from 0 to 4 working days, experts say. And the cost of the service will cost$30-$120. For comparison: in Europe on the transaction, the purchase and sale of real estate requires from 20 to 40 days.
In addition to utility bills, the buyer of real estate in Georgia no longer have any monthly costs, which saves costs significantly for its maintenance. On average, utilities are $600-$800 per year, in Europe – €1000-€2000 per year. So, the monthly utility bills for an apartment of 50 square meters are on average $35. Tax on the profit when renting out their property for rent in apartment hotels is about 5%.
Portal HomesOverseas.EN thanks for the help in preparing the articles of NASU office (Orbi Group) and Yura of Taniashvili (Dreamland Oasis).
Olga Potaeva
photocredits: orbi group / dreamland oasis / flickr
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